Wall Street brokerages forecast that Hanesbrands Inc. (NYSE:HBI) will announce sales of $1.88 billion for the current quarter, according to Zacks. Four analysts have provided estimates for Hanesbrands’ earnings. The lowest sales estimate is $1.87 billion and the highest is $1.89 billion. Hanesbrands reported sales of $1.80 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 4.4%. The company is scheduled to report its next quarterly earnings report on Wednesday, November 7th.
On average, analysts expect that Hanesbrands will report full year sales of $6.77 billion for the current financial year, with estimates ranging from $6.75 billion to $6.79 billion. For the next fiscal year, analysts anticipate that the company will report sales of $6.86 billion per share, with estimates ranging from $6.78 billion to $6.92 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Hanesbrands.
Hanesbrands (NYSE:HBI) last announced its quarterly earnings results on Wednesday, August 1st. The textile maker reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.01). The firm had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.71 billion. Hanesbrands had a net margin of 0.58% and a return on equity of 78.67%. Hanesbrands’s quarterly revenue was up 4.2% on a year-over-year basis. During the same period last year, the firm earned $0.53 EPS.
A number of equities analysts recently weighed in on HBI shares. Credit Suisse Group reduced their target price on shares of Hanesbrands from $21.00 to $19.00 and set a “neutral” rating for the company in a research note on Thursday, August 2nd. ValuEngine raised shares of Hanesbrands from a “strong sell” rating to a “sell” rating in a research note on Thursday, June 21st. UBS Group started coverage on shares of Hanesbrands in a research note on Thursday, June 21st. They issued a “neutral” rating and a $22.00 target price for the company. Zacks Investment Research raised shares of Hanesbrands from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a research note on Tuesday, July 24th. Finally, Buckingham Research reduced their target price on shares of Hanesbrands from $28.00 to $26.00 and set a “buy” rating for the company in a research note on Thursday, August 16th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seven have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $23.61.
A number of large investors have recently modified their holdings of the business. Duncker Streett & Co. Inc. lifted its position in Hanesbrands by 12.6% during the 2nd quarter. Duncker Streett & Co. Inc. now owns 22,275 shares of the textile maker’s stock worth $490,000 after buying an additional 2,500 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its position in Hanesbrands by 22.5% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 14,846 shares of the textile maker’s stock worth $327,000 after buying an additional 2,725 shares in the last quarter. Chevy Chase Trust Holdings Inc. lifted its position in Hanesbrands by 0.4% during the 2nd quarter. Chevy Chase Trust Holdings Inc. now owns 701,437 shares of the textile maker’s stock worth $15,446,000 after buying an additional 2,887 shares in the last quarter. Isthmus Partners LLC lifted its position in Hanesbrands by 1.1% during the 2nd quarter. Isthmus Partners LLC now owns 274,533 shares of the textile maker’s stock worth $6,045,000 after buying an additional 2,894 shares in the last quarter. Finally, Ridgewood Investments LLC lifted its position in Hanesbrands by 27.1% during the 2nd quarter. Ridgewood Investments LLC now owns 14,806 shares of the textile maker’s stock worth $326,000 after buying an additional 3,154 shares in the last quarter. 99.58% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE HBI opened at $17.57 on Friday. The firm has a market capitalization of $6.42 billion, a P/E ratio of 9.11, a P/E/G ratio of 1.01 and a beta of 0.39. The company has a debt-to-equity ratio of 5.41, a current ratio of 2.02 and a quick ratio of 0.84. Hanesbrands has a 1-year low of $16.38 and a 1-year high of $25.59.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 5th. Shareholders of record on Tuesday, August 14th were given a dividend of $0.15 per share. The ex-dividend date was Monday, August 13th. This represents a $0.60 annualized dividend and a yield of 3.41%. Hanesbrands’s dividend payout ratio (DPR) is presently 31.09%.
Hanesbrands Inc, a consumer goods company, designs, manufactures, sources, and sells a range of basic apparel for men, women, and children in the United States. The company operates through three segments: Innerwear, Activewear, and International. It sells bras, panties, men's underwear, children's underwear, activewear, socks, hosiery, intimate apparel, shapewears, and home goods; and T-shirts, fleece, sport shirts, performance T-shirts and shorts, sports bras, and thermals, as well as licensed logo apparel in collegiate bookstores, mass retailers, and other channels.
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